"Our experience building a consumer medical wallet helped us see the greater opportunity to revolutionize the patient billing and payments experience while also tackling an important business issue for providers," said Simplee co-founder and CEO Tomer Shoval. "With clear, trusted bills and flexible payment options, SimpleePAY prepares medical providers and their patients for the accelerating trend toward high deductible health plans."

The charter customer for SimpleePAY is El Camino Hospital, an award-winning, leading-edge hospital in Silicon Valley with campuses in Mountain View and Los Gatos, Calif. "SimpleePAY is an innovative approach to patient billing that will improve our level of patient service, save us money, and increase our productivity," said Judi Ashline, Patient Financial Services Director. "Partnering with Simplee has allowed us to think differently about patient billing, and is changing the dynamic of our interactions with patients."

Simplee has managed nearly two billion dollars in patient medical expenses through its consumer medical wallet since its launch in 2010. Simplee users are highly engaged with 85% remaining active users after making their first payment. Simplee users pay an average of $1,200 medical bills and use the platform 15 times a year.

How it Works

Today a disjointed medical billing and claims process leaves the healthcare consumer confused about what to pay, why, and even to whom. Furthermore, medical providers often use antiquated billing systems based on a paper bill or an electronic PDF copy that result in extended payment cycles. Patient frustration with billing has many other downstream impacts for providers as well, including higher customer service costs, late or non-payment of bills, and reduced Medicare reimbursement tied to patient satisfaction scores. SimpleePAY was created to address the needs of both medical providers and their frustrated patients.

For medical providers, SimpleePAY creates efficiencies, improves collections, and aims to increase patient satisfaction, and ultimately loyalty through a number of features including:

True interactive, digital bills with plain language explanations

Proprietary technology uniting bills and the explanation of benefits (EoB)

"Patients have been conditioned to expect a poor billing experience and to deprioritize paying medical bills," continued Shoval. "With SimpleePAY, medical providers finally have the tools to transform the patient payment experience and meet the rising demands of the healthcare consumer."